HomeMy WebLinkAboutResolution 90-254 07/30/1990
• R~SOlutl®~ 1 r 90-254 l r C.~.
of the City of Petaluma, California
1 RESOLUTION APPROVING AGREEMENT
2 WITH SPECIAL LEGAL COUNSEL FOR
3 ZONE IV WATER IMPROVEMENTS
4 CERTIFICATE OF PARTICIPATION
5
6 The City Council of the City of Petaluma resolves:
7 This Council approves that certain agreement between the CITY OF
8 PETALUMA and STURGIS, NESS, BRUNSELL AND SPERRY, for
9 services of that firm as Special Legal Counsel for Zone IV Water
1o Improvements Certificate of Participation and attached to this resolution.
11 The Mayor or City Manager is authorized to sign the agreement and
12 the City Clerk is authorized to attest its execution.
Under the power and authority conferred upon this Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) (Adjourned) (5~~~ meeting fO~
on the .------3.Oth.._..... day of ................July........._....................-., 1s-90.., by the
following vote:
City Attorney
AYES: Balshaw, Sobel, Woolsey, Tencer, Vice Mayor Cavanagh, rlayor Hilligoss
NOES: 0 /
ABSENT: Davis
ATTEST: ...............U..Y~-.-...---..
City Clerk Mayor
Council File
CA 10-85 Res. No......9.O.-.Z54....... N.C.S.
Fee, Schedule for Clty of Petaluma "
~Certificdtes of Participation
. Zone IV Water System Improvements
Par Value Total Par Vdlue~ Total
to be Sold Fee to be Sold Fee
e.e..` -
E1,A00',AOA E12;5A8 E6,10A,80A 539,345 _
51;'100,090 313,2AA E6;200,AAA 539,990
51,,29A;AA0 513,800 56,300;00A 540,320
E1;300;A0A 514,3AA Ss,400,000 u9,s4A
51,400,AAA ~ 514,70A 56,500,000 540,950
51,SAA,'AAA _ 515,00A
51,seA,AAA 51s,z0A
51,700,908 515,300 July 17,1990
51,800';000 515,3AA
51,900„000 515,200 '
52,000,000 516,000
S2,1AA,000 51s,eAA
Sr,zeA;eee S1,seA •
Sz,3AA,AAA 51e,4AA ~ ,
Sz,4AA,eee s1s,zAA
Sz,SAA,AOA SzA,AeA ~ .
Sz,6ee;AAA sis,s0e '
Sr, 70A ;AAA SzA; zsA
52,800,0AA sz~AAe .
52,9AA,AAA E21,75A
S3,AAe;90A E22,50A .
53;iA9.AeA az3,zse
• $3,zAA;AAA. az4,AAA
S3;3A0,A90 524,,750
S3,4A0;000 525,500
53,5A0,00A f26,25A - '
- 43;60A;AAA 525,200
53,1A0.,0A0 E25;90A'
53,800,00A ~ 526;6A9
53,9A0,A00 527,30A
54,090,090. 528;AA0
S4,1A0.A0A E28,)AA
54,200',000 529;40A
54,390,,000• E3A,10A -
54,40A.AAA 53B,BA0
54;590,;00A s31;¢AA
54,6D0,00A E29;90A
• 54,7A9,090 530;,55A
54,8AA,AAA E31,2A0
. s4_,9A0,00A E31,85A
55,0AA,00A S32,SAA •
55,100,AA0 E33;15A
s5,z0A,eee 533,eea
55,300,A00 434,95A
55,4AA,A00 E3S;1AA
s5,5A0;000 535,`75A'
55;6A0;AAA 536;4AA
55;J00,00A 537,05®
55,800,0AA 'E37,70A •
E5,9AA,AAA S38';35A
S6;A0A,0AA 539,_@0A
r~ -
' AGREEMENT FOR.L'EGAL SE"RVLCES ,
WATER SYSTEM IMPROVEMENT PROJECT
CITY O.F 'PETALUMA
This is an agreement for legal services between the_CITY
OF.PETALUMA, a muniepal~corporation of the. State of California,.
referred to as-Client,. and STURGhS, NESS, BRUNSELL & SPERRY a .
professional corporation, Attorneys at, Law,, Emeryville, California,
referred to as Special. Legal Counse ~ ,
1. Client retans;.Speci~aT Legal. Counsel as special
counsel. to•perform the following lega.l,;services relating to the
proposed Water System Improvement°. Project, City of Petaluma, Sonoma
. County, California:
(a) Upon request: from; you„ Crave]: to the City of -
Petaluma to, participate :in sta°f•f meetings, to attend
Board meetings and to; otherwise participate. in .
prelim'nary .discussions regardng• the ,proposed
f financing.
(b), . Provide legal, services respecting- the proposed
;financing transaction, preseritl.y contemplated to be
issuance and sae of Cert`if_cates~ of Particfipatfion.
{c'). Prepare. initial dnrafts of all ,required legal.
documentation for. the underlying lease agreement and
the ''issu'ance and "sale of the Cert~f;fica~tes of
Part'ficipa~ton,:coordinate the review of these
pr-elm~nary drafts, andprepare.modfified and final
verafions of"the documents as appropriate.
` _ (~:d-) " Participate as necessary 'with your underwriter .and
f'fina•ncial c°onsultanf in any bond rating'- process,
' , (e) Lf necessary, a s~fist in the formation of `a non-
prof.,it `pub'lic b'enefi't corporatfion to act as the
lessor" of the project.
(f) Coo,dinate procedures for''printng of Certificates
. of Partcipatfion and arrangements for issuance, sale
and delve,ry of these Certificates to the
underwriter.
1i
(g) Render a 'legal opinion on the validity of the
_ Certificates of Pair-ticpaton and' :the` proceedings
leading to their , ssttan.ce, .sale and del -very.
- 2. In Consideration o:f the services set• ~f;orth in
Paragraph l Client sh~a'11 spay to Special. Legal 'Counsel the
following fete, and. costs: _ .
• ~ (°a) The legal fe`e. of Spec.ia`l `,Legal Counsel shal'1~ be one:
;percent (l~) ' of the first million dollars .of the
face amount o,f' the Certificates; plus one-ha;lf of:
• one ',percent (~1/2~.) of the- faceamount of the
Certificates 'n excess. of one.millon d'o.llars.
LL
('b)' . Co's'ts shall be ~r:.embursed~ to Special Legal ;Counsel
• as follows:: ~ -
. 1) Fihng. and .recording, fees and publ.cation costs
advanced on behalf of Client.:
2) Costs pf Redera'1 Express or smi,Tar
delivery' service..
The cost of~other services for whch.Specia Legal
- Counsel makes° arrangements under th-is a.gre-ement
(such "as,~_~prin~tn~g ~cos:ts~:,) ~sh~all be~ b'~'1Ted~ to~ the
Client and shall be paid by Clent~~di.rectly to the
payee
(°c~) ~ Payment` •by Client of the egal~ fee and' the costs
-shall be contingentupon receipt of Certificate sale
proceeds. b.y the Client and shah be pa~yabl,e solely
• from. such proceeds' upon deliver':y o '..the Certificates
based upon an invoice to be submitted by Special
. • . Legal...Couns_el. ~ "
„2
3. Spec al Legal Counsel certif'ie's, that. t~ has no '
`interest, a-ther direct ,or contingent', in~ any property or contract
arising"from or affected by the Water System Improvement Pxoject,
except as Special Legal Counsel under this ag,reement.. Special
Legal Cozens:el has not received a fee from,ammy source, for services
connected with the iproject financing.
DATED:
. CITY' O_F P.ETA_LUMA, ~ a municipal
corporaton of the State of
Califo:rna
By
. -MAYOR
ATTEST'
By
CITY CLERK
STURG~IS, .NESS, BRUNSELL & SPERRY
a profes°sional corporation
By
.Kober"t Br.unsell
3